SAN ANTONIO, Nov. 6, 2013 (GLOBE NEWSWIRE) -- CPS Energy announces the kickoff of its grid modernization effort, commonly known as smart grid, with partners Silver Spring Networks and Landis + Gyr. Upgrades to the company's infrastructure will begin in December.
"CPS Energy has been deliberate in its preparations to modernize our grid, and in Silver Spring Networks and Landis+Gyr, we have partners with deep experience in smart grid technology," said CPS Energy President and CEO Doyle Beneby. "When the project is complete in five years, our electrical grid will be stronger, safer, more responsive—and will allow customers more choice and flexibility."
"Modernizing our electrical grid moves us forward in the New Energy Economy and adds 50 good-paying jobs to the local economy," said Mayor Julián Castro, who sits on the CPS Energy Board of Trustees. "Customers will see a more reliable system that better integrates renewable energy sources and gives them more control over their personal electrical use."
Silicon Valley-based Silver Spring Networks has already begun providing the standards-based networking platform, advanced metering infrastructure and distribution automation solutions across CPS Energy's service territory. This network will connect advanced meter technology provided by Switzerland-based Landis+Gyr. The completed system will facilitate wireless two-way communication between CPS Energy and its customers, allow for increased energy efficiency and offer greater customer control and savings. It will also:
The combined value of the contracts is roughly $200 million and will bring a minimum of 50 well-paying jobs to San Antonio.
"Landis+Gyr is pleased to be expanding our relationship with CPS Energy and positively impacting the greater San Antonio area," said Richard Mora, CEO Landis+Gyr Americas. "In addition to providing market leading metering products, our work with CPS Energy includes demand management programs for consumers and paves the way for growth into other avenues for managing energy better in an era of increased use of renewable energy."
"CPS Energy's modernization initiative will deliver enormous benefits to the citizens of San Antonio and create a long-term foundation for greater energy efficiency, improved reliability and performance of the energy grid, and increasingly empowered citizens who can better manage their energy consumption," said Scott Lang, Chairman, President and CEO of Silver Spring Networks. "Silver Spring Networks is thrilled to partner with an innovator like CPS to bring more technology jobs to San Antonio and unlock the value of modern energy infrastructure for all CPS Energy customers."
As part of CPS Energy's New Energy Economy initiative to boost San Antonio's clean technology sector, the companies will make combined educational commitments of more than $10 million that will help Greater San Antonio students become our community's highly skilled workforce of tomorrow.
In the first phase of the project, which begins next month, the smart grid networking technology will be installed across the CPS Energy service territory. Installation of individual meters for commercial and residential customers will follow in summer 2014. The entire project will be implemented over the next five years.
Additionally, the potential exists for a local battery storage pilot program with Toshiba, co-owner of Landis+Gyr. Advances in battery storage may help solve reliability concerns inherent with renewable power.
About CPS Energy
CPS Energy is the nation's largest municipally owned natural gas and electric company, providing service to approximately 741,000 electric and 331,000 natural gas customers in the Greater San Antonio area. The company offers the lowest rates among the top 20 largest U.S. cities, while ranking number one in wind-energy capacity among municipally owned systems and number one in Texas for solar generation. To learn more visit cpsenergy.com
About Silver Spring Networks
Silver Spring Networks (NYSE: SSNI) is a leading networking platform and solutions provider for smart energy networks. Silver Spring's pioneering IPv6 networking platform, with 17.5 million Silver Spring enabled devices delivered, is connecting utilities to homes and businesses throughout the world with the goal of achieving greater energy efficiency for the planet. Silver Spring's innovative solutions enable utilities to gain operational efficiencies, improve grid reliability, and empower consumers to monitor and manage energy consumption. Silver Spring Networks customers include major utilities around the globe such as Baltimore Gas & Electric, CitiPower & Powercor, Commonwealth Edison, CPFL Energia, CPS Energy, Florida Power & Light, Jemena Electricity Networks Limited, Pacific Gas & Electric, Pepco Holdings, Progress Energy and Singapore Power, among others. To learn more, please visit www.silverspringnet.com.
Landis+Gyr is the leading global provider of integrated energy management products tailored to energy company needs and unique in its ability to deliver true end-to-end advanced metering solutions. Today, the Company offers the broadest portfolio of products and services in the electricity metering industry, and is paving the way for the next generation of smart grid. With annualized sales of more than US$1.6 billion, Landis+Gyr, an independent growth platform of the Toshiba Corporation (TKY:6502) and 40% owned by the Innovation Network Corporation of Japan, operates in 30 countries across five continents, and employs 5,300 people with the sole mission of helping the world manage energy better. More information is available at landisgyr.com.
CPS Energy Public Relations (210) 353-2344.